India's Refiners Ditch Russian Crude Amid Tensions

Published on 7.31.25

  India's private refiners, including Reliance Industries and Nayara Energy, are pulling back from Russian crude due to shrinking discounts, as EU-imposed curbs on Russian oil imports may complicate overseas trade. The move comes amid rising tensions between Russia and the West, with US President Trump threatening 100% tariffs on countries buying Russian oil unless Moscow reaches a major peace deal with Ukraine. India has reiterated its opposition to "unilateral sanctions", while state-owned refiners like BPCL, HPCL, and MRPL continue to buy Russian oil, responsible for about 35% of India's overall supplies.

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